Looks like Quicken will get a breath of Mint.com air.
Last week, Intuit, the maker of Quicken and TurboTax financial software, announced its purchase of Mint.com, an online financial service company.
Mint.com offers an easy to use Web site to help users manage their personal finances. Since its launch in September 2007, the site serves over 1.5 million users, tracking billions of dollars in transactions and assets. The service also helps users save money. Currently, the Web site is free for its users.
“With this transaction, Intuit will gain another fast-growing consumer brand and a highly successful Software as a Service (SaaS) offering that helps people save and make money,” said Brad Smith, Intuit CEO.
With Mint.com, Intuit will serve as the main online-based financial service for its consumers, while Quicken Online will be geared towards allowing online access for Intuit’s software products.
The deal is expected to close by the end of 2009.
So far, there’s been an outcry against Intuit’s new acquisition. Wonder if Mint.com will survive if its members jump ship for other financial Web sites? :-|
